UGI Subsidiary to Acquire Columbia Midstream Group, LLC From a Subsidiary of TC Energy Corporation
VALLEY FORGE, Pa.--(BUSINESS WIRE)-- UGI Corporation (NYSE: UGI) announced that its subsidiary, UGI Energy Services, LLC, has signed a definitive agreement to acquire the equity interests of Columbia Midstream Group LLC, (“CMG”) from a subsidiary of TC Energy Corporation (NYSE: TRP) (“TC Energy”) for approximately $1.275 billion, subject to customary adjustments at closing. CMG holds five gathering systems, with capacity of roughly 2,675,000 MMBtu/day and 240 miles of pipeline, located in the southwestern core of the Appalachian Basin.
November 8, 2017, Steelton, PA — UGI Energy Services, LLC, a subsidiary of UGI Corporation, today celebrates the commissioning of their new Liquefied Natural Gas (LNG) facility with a ribbon-cutting ceremony at the site in Steelton, Pennsylvania.
The Steelton LNG facility will provide peak shaving services. During periods of extremely cold weather, the use of natural gas to heat homes and businesses can increase dramatically in a short period of time. A natural gas peak shaving facility is designed to deliver an off-pipeline supply of natural gas into the local distribution system to satisfy these spikes in demand in a reliable, efficient and cost effective manner.
WYOMISSING, Pa. (Nov. 1, 2017) – UGI Energy Services LLC (UGIES), a subsidiary of UGI Corporation (NYSE: UGI), announced today the acquisition of midstream assets from Rockdale Marcellus LLC (Rockdale) by its wholly owned subsidiary, UGI Texas Creek LLC (UGI Texas Creek).